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No one except the state wants them. And who cares what consumers or shareholders want? Not Ford.
Back in March, I wrote that, “Ford reported that it’s going to lose $3 billion on electric cars in 2023. Unlike most automakers, Ford reports its electric vehicle numbers separately, but experts estimate that most car companies are losing similar amounts on the dead end business.”
“Ford plans to make 2 million electric cars every year by 2025. That would be impressive considering that Ford only sold 61,575 of them in 2022. It sold 3,624 electric vehicles in Feb 2023.”
And the numbers just keep getting worse. It’s now a loss of $4.5 billion.
Ford said the higher loss projection for Ford Model e reflected “the pricing environment, disciplined investments in new products and capacity, and other costs.” Ford also now expects to reach a 600,000-unit EV production run rate during 2024, instead of the end of this year, on the way to achieving a 2 million annual run rate.
The pricing environment is that prices keep rising. How exactly is that hurting Ford? The Biden administration and China and California have conspired to price real cars out of the reach of consumers. And yet Ford still can’t sell electric cars at a time when Tesla is moving them.
And nothing says “disciplined investments in new products” like a $4.5 billion loss and production delays while sales are actually falling.
But Ford’s CEO is doubling down on ESG-Uber-Alles.
“The near-term pace of EV adoption will be a little slower than expected, which is going to benefit early movers like Ford,” Ford CEO Jim Farley said in a statement. “EV customers are brand loyal and we’re winning lots of them with our high-volume, first-generation products; we’re making smart investments in capabilities and capacity around the world; and, while others are trying to catch up, we have clean-sheet, next-generation products in advanced development that will blow people away.”
How are they blowing people away, Jim?
Somewhat worrying for Ford and investors was a dip in EV sales, with the company noting EV sales dropped 2.8% for the quarter, with Mustang Mach-E sales down 21.1% and its E-Transit electric van sales down 23.8%.
How long does this go on until activist shareholders ask Ford to choose between Klaus Schwab and their money?
My favorite topic (one of them anyway 🙂
The Madness of Crowds brought to real life! A new Tulip Bulb Craze. I never thought I would see something that crazy in my life. I thought humanity had evolved beyond that stage.
What about the South Sea Bubble? 😀
You’d think greater and easier access to information would prevent it.
Easier access to information just makes it easier to manipulate people.
When it is all manipulated the opposite is true !
So when do they stop making these losers and shams ? When they stop sucking gov tit !
By the way persoanlly I will laugh whe they all go BK !
Hopefully Ford and others go completely out of business. Buy a reliable, late model, gas-powered Japanese vehicle and take care of it. Resist the tyrants. Changes in automobile technology should be based technological advancements and economics, not the political fantasies of petty communist rulers.
No front-drive heaps! Get a proper BMW or Mercedes-Benz.
If you look at current J.D. Power ratings, https://www.jdpower.com/cars/ratings you’ll learn that a Mercedes-Benz or BMW is the last thing that is “proper”.
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Absolutely spot on! Farley has lost his way. EV’s will eventually destroy Ford Motor Company.. Is he the best that Ford can find for leadership?
Ford will not be destroyed regardless of their questionable business decisions, because they Cooperate Politically and the Government will bail them out……Business long ago stopped being Independent (Lost their Independence) Today, The Corporate business World are Set Pieces in a Chess Game and a few Challenged people in DAVOS are the Player’s ……
Yet, I have owned Tesla over the last 4 years and am VERY happy with it. I know nothing about other electric cars, though.
Generally speaking, I am FOR electric cars and for two major reasons: First, running a car on electrical power is the simplest straight-forward technology there is for converting an energy store into mechanical power.
Second, given that about 80% of electricity today comes from burning Hydrocarbons (which ignorant people call “Fossil Fuels”), the MORE we burn them, the more CO2 we’ll bring into the atmosphere, thus the ‘Greener’ the Earth will become! For those who have forgotten their kindergarten ‘education’, Photo-Synthesis requires Water, CO2 and Sunshine!
You are aware that the carbon footprint of an EV being manufactured due to mining cobalt, graphite, lithium, and other minerals makes an EV dangerous to the earth. Where are you getting your electricity? Is your charging source coal or natural gas? EVs failed in 1904 and will fail again.
Some people have. Unfortunately, they also sat back to enjoy the distractions created by those who only crave power. These lizard-people are taking the opportunity to go for all the marbles…
Humanity hasn’t evolved one whit in over two thousand years. We have become technologically advanced, but our emotions are just as animalistic as they have always been.
Our racial maturity takes tens of thousands of years, until generational memory can no longer hold us in its sway. Humans live by their, “Animalistic Territorial Imperatives”, because we ARE herd animals pure and simple. The problem arises when it is discovered that a good portion of humans are actually Crocodiles instead of Wildebeest.
I’m having trouble following a comment section that began with Ford Motor Company losing billions of dollars in the electric car fad morphing in to “Animalistic Territorial Imperatives” and “herd animals pure and simple”.
Perhaps you could respond and make the connection more apparent.
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Green crypto
Not exactly. In fact, the opposite. In the Tulip Bulb Craze, a limited resource (tulip bulbs) experienced a great deal of growth in demand, and the supply could not come close to satisfying the demand. In this case, the supply keeps growing and the demand is not. Q.E.D.
Pet rocks or mood rings would be a good analogy. Beanie Babies. Precious Moments collectables. NFTs.
Products with no inherent value other than hype.
You forgot that we have the trifecta going now….Electric Vehicles, Solar Generation, and Wind Power….
All of this which relies on fossil fuels to keep us alive!
This is madness. EVs, like all “green” tech are simple supplements, not alternatives. Much of Ford’s loss will be subsidized by working, tax-paying Americans. Ford should be ashamed – they knew it wouldn’t work. Robert Kennedy is correct to call this “Crony-Capitalism.” Trump knows, too. It better end soon.
Valid comment about public hysteria. Does the public have any clue about battery lifecycle and the eventual disposal of the batteries? Although there can be come components that can be recycled, the costs and consequences could be significant and probably are not understood by the general public. There is also the increased requirement for sufficient power generation to charge the batteries, and temperature concerns about battery output, especially in cold weather.
As with all of these destructive ant-American crap these large companies are pulling, BlackRock, Vanguard and State Street are behind it.
So to answer your question: When will shareholders ask Ford to choose between Klaus Schwab and their money?
They won’t.
Mark Twain, who is underrated compared to Churchill, said it:
“Never underestimate the power of stupid people in large groups.”
Thomas Edison told Henry Ford that because of batteries, electric vehicles will never be practical. Over 100 years ago, talk about sl.ow learners.
Once our expectations in life have been sufficiently adjusted down, electric vehicles will far exceed our needs. Just a bit of tweeking on the expectations end, that is done easy enough.
If everyone would just live like I think they should live, isn’t that right roberta.
You don’t get to decide that for me.
Same hippy dippy crap the rejects of the 60’s and their spawn have been shoveling out.
YOU don’t get to tell the rest of us how to live.
Are you one of these people that ”just doesnt get it””?
I was stating a fact, not issuing a command.
They (meaning government) are forcing us (meaning us- you me and all the commons) to lower our standards /expectations to fit their (meaning government) desires.
You really didn’t make that clear.
Your non-apology for your poor writing is noted,
Apparently about 50% have sufficiently thick skulls to NOT get that.
I got it the first time. Herr Schwab wants us to own NOTHING & be happy about it!!
Correct. The “greenies”, et. al., want us to lower our expectations while they come up with the alternatives that will save the Earth. The problem is the alternatives can’t meet demand so they come up with ways to lower demand. In effect, society is moving backwards while they try to convince us it’s progress.
I must respectfully disagree, Roberta.
There is no excuse for expecting or demanding our expectations be ‘adjusted down’ when it comes to electric vehicle transportation. Short of a technological breakthrough, the slashing of weight, cost, charging time, range, flammability, and recyclability, electric cars and trucks will not prevail.
We may accomplish that breakthrough, be it all at once or incrementally, but just as likely we may not: It may be that EV’s are just plain not a good idea. No tweaking allowed.
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Is that before or after Ford stole some of Tesla’s inventions?
As a Brit who knows only too well about nationalised industries, I find it interesting that when Americans talk about bailouts, they don’t seem to realise that once the companies are bailed out, they are owned by the state and will be “bailed out” for ever. Look at U.K. in the 1970s for how that went. Ford, GM etc are nominally owned by all US taxpayers, but you don’t get to say if you want it or not. So much for “democracy “.
I am not including Daniel in this as he clearly knows what is going on. Your posts are a breath of fresh air and nicely written, thank you.
GM was bailed out on the taxpayers dime–not Ford–not yet!
My understanding agrees with Chief’s: Obozo ordered his lackeys in duh federal gruberment to bail out GM. Ford didn’t go for the “deal.”
Thank you. The U.S. car industry is closely intertwined with government due to decades of subsidies and special arrangements, and the close connections between the unions and Democratic Party governments
Failing businesses don’t have much of a choice when the govt says take the money or die. Fascism by any other name is still fascism.
“…The near-term pace of EV adoption will be a little slower than expected, which is going to benefit early movers like Ford,” – Nonsense, it’ll be the people that jump in when EVs are practical, if ever, who will benefit. Ford is wasting their money and effort on “first gen,” that isn’t marketable, even with massive government interference in their favor. All their tech will be obsolete if or when a marketable breakthrough is achieved. Government interference forcing something that isn’t possible or isn’t ready tends to put off the day when it IS possible or ready..
Ford is acting like they’re innovating new technology, when they’re not, and like there’s a booming market, when there isn’t, but Jim is borrowing the tech industry’s inspirational nonsense.
Very simple and down to earth. If you run out of fuel in an EV, you can’t just take the reserve canister in the trunk and pour into the tank. You can’t call your brother, sister, or even the roadside-help for bringing a gallon of fuel. You are towed or on an auto-transporter to the the nearest charging station, and then wait 45 minutes while charging, compared to the 2 minutes for filling your normal car. for 500 miles of driving. An EV is not practical for anything more than 10 miles away, or inside coverage of public transport, and very good for that purpose. . We tried an EV with an open mind, three months later we bought a diesel.
Their numbers don’t add up. They have a run rate of 600,000 EVs, but only sold 3,700 in Feb. Assuming Feb is a slow month, let’s be generous and assume they sell 5,000-6,000 (despite reporting SLOWING sales). That still only gets them to 10-15% of their capacity. No wonder they’re losing so much money.
And the more they build, the more money they’ll lose.
Look at their Rivian investment where the trucks cost far more than the insane inflated sale price
Governments in Europe, taken as the EU, demand a specific proportion of the cars built, must be EV’s, otherwise factories face heavy fines.
Capitalism will be blamed , because Corporatism (aka crony capitalism) is running amok.
It’s no longer corporatism, it’s flat out fascism.
More like National Socialism with a fascist arm to enforce their opinions.
What does Ford care? Biden gave them 9 billion dollars to “build back worse”. Ford has committed suicide with this EV debacle. Soon in rural Amerika, there will be EV power stations every half mile on all roads to get the produce to market. When it gets there you won’t be able a to afford it.
Let me give you a farmer’s example. IN order to get my two horses to the vet at any time, It takes a trailer that, with two horse inside, weighs over 5K. A truck that can tow that much, and 12 mile to the gallon gasoline. My vet lives over 30 miles away. No known electric truck can travel that far with that much weight in a single trip. EVERYTHING in rural Amerika will slow to a crawl. So do we sit back and let the WEF unelected and unliked bureaucrats do it to us, or fight back?
That’s the idea. Starve the countryside, force everyone into cities. Worked in the USSR and China, bound to work here.
Unless they reverse it and do a Pol Pot and force everyone to the countryside to starve to death.
Our fascist government, pushed by the WEF, will make it happen *in spite of and in direct opposition to* the consumer. CBDC’s will very soon be dictated to replace the dollar. Once that is in place, the government will control every aspect of your purchasing. So you want to buy a gas-powered car? Nope, your CBDC will not work for that purchase. Your “money”; actually it is the government’s money, will only work for the purchase of electric vehicles. So you need to purchase gas (if you can find it) for your old, worn-out car? Sorry, your CBDC will not work. You say to yourself, “Well, I still have some cash, I will just pay with cash.” Nope, cash will not be accepted. In fact, its use may very well be criminal. Welcome to the new Amerika.
Does Farley, and the other CEOs know something that we plebes do not? Other than vast incompetence, what other reason would drive such economic lunacy without risk of being fired? Madness? I do not think Farley is a madman or incompetent, so why?
Or……..could there be a plan by BIG GOV to ban, in the near future, gasoline/diesel sales, or ban gas/diesel passenger vehicles? These CEOs know or have been promised the Big Guy will look after them?
Because Climate Change? The “lockdowns” for climate? Just look at the vast weather propaganda this summer, it is over the top and exaggerated.
These lunatics are not afraid to turn society upsidedown.
“[N]ot afraid to turn society upsidedown”? That is their aim.
You raise an interesting point. Perhaps he puts a smiley face on the pig because of where he’s getting his money.
As for BigGov, and other assorted snake oil salesmen in green energy, they must feel a sense of urgency; the climate scam is unraveling, green energy projects are failing, and China is telling them to go to hell.
The amount of information published in a single day on the WhatsUpWithThat website is staggering. All thoroughly documented, with references, with links. The climate industry is in trouble, the climate scam is unraveling, and people around the world are pushing back.
There is indeed such a plan.
California and a number of other blue states are implementing car bans by 2035. So is the EU.
Biden announced plans to eliminate most real car sales by around then.
When”Big Business”becomes this”POLITICIZED”,we are ALL In TROUBLE!!!!!!!!!!!!!!!!!!!!!!!
If Ford decides to make only EV then they’ll go away like with Rambler and Studebaker
Biden turned over $1 trillion worth of lithium to Islamic terrorists.
Biden is a Traitor to America lets See Read or Hear that from the M.S. Media Bottom Feeders
In a large part, government brought the American car industry to it’s knees in the 70s and it never fully recovered. Will regulations and meddling finally succeed in putting it out of business all together?
Nobody spends good money on an “e-car” because they’re good transportation. They buy them to show what great steward of the planet they are. And I’d be very surprised if our faux- pseudo – “government” isn’t misusing our tax money to subsidize every worthless e -car these companies manage to foist off on people.
Ford’s continued and expanding losses in the EV market are all about ingratiating themseves with the EPA, the Greens and the ESG crowd which still include Wall St., because there are vast taxpayer subsidies yet to be tapped! So a $3B loss this year is just an R&D expense to be recouped later when the EV horse 😀 crosses the finish line. The EV game has nothing to do with market forces and everything to do with who you own in Congress.
Ford EVs lost $32,000 per unit sold in the second quarter of 2023. I guess they’ve adopted a policy of “what we lose on each one we make up for in volume.”
Time to join an Amish community (if they let you). Not only is horse & buggy coming back, covid won’t affect you in the least (they never took the ‘jab’ and had no problems)..
Wishful thinking aside, the solution to all of this madness (yes, madness, insanity, funny farm, looney bin, etc) is on the way to clean up this mess, I expect this fall.
Klaus Schwab might have his ‘Great Reset’, but my God has a ‘Greater Reset’ planned. It is comprised of the Rapture (removal) pf His bride followed by a 7 yr. Tribulation Period (also known as the Time of Jacob’s Trouble….making it a uniquely Jewish experience) during which Christ will redeem His Chosen people, stop mankind from annhilating itself then bring His long prophesied judgements on this evil, Christ rejecting world.. (You don’t want to be here for that).
Maranatha, come Lord Jesus………….<
Rev. Roy……………….<
You are absolutely correct Rev. Roy. I sometimes wonder how long it will be before He returns. God bless.
The big Ford shareholders could turn this around in an eyeblink, if they were honest not earning returns in some way other than Ford sales. If the management of Ford were honest people they would never have hooked into the EV scam.
Buy an EV? I just ordered a new Escalade.
More and more, big business is beholden to the federal government. They are either so regulated that they fear the government or they use government for rent seeking, maintaining high barriers to entry, favorable laws and regulations, in exchange for doing the government’s bidding. So gas and diesel vehicles are subsidizing the production of EVs. As far as the feds are concerned this is a win-win, driving gas car prices higher as well as keeping EV prices artificially low.
The Mustang is to Steve McQueen as the Mustang e is to Dylan Mulvaney.
That’s just ridiculous. The Mach E has better acceleration, better handling, and the styling is just as sleek.
It doesn’t matter whether you’re Ford, Netflix or Disney. You make money by making stuff people want. You lose money when you make stuff you think people should want. It’s not personal, Sonny, it’s strictly business.
This means that Obiden is going to declare a “climate emergency”. Internal combustion cars will be banned. This move will look prophetic.
As the world grows colder
This doesn’t mean much because Ford is really now Biden Motors. Fiord will receive a “loan” to cover their losses. The whole EVs movement is a disguised effort to cripple American industry and keep us from moving.
It will kill our freedom of movement if it succeeds, but it won’t.
Red States will offer great tax deals to Japanese car builders and keep pumping gas.
The greedy virtue signaling fake progressives in Blue States will just have to live with their mistake.
Think West and East Germany.
Ford and many multi nationals are the epitome of fascism. Where tyrannical Marxist government forces private companies to do its own dirty deeds. Then claims it has noting to do with the decisions made by private enterprise. In modern American parley it is called PRIVATE PUBLIC PARTERSHIP. An antithesis to American ideals and principles.
Saw a viral video of an F-150 Lightning EV stopped on the shoulder. In the truck bed, was a running generator that was charging the pickup!
Say HELLO, to the FUTURE!
EV work vehicles are not practical. Ask anyone who uses a truck to tow heavy loads, etc. Batteries lose serious range in extreme cold weather. As much as half the range! They also degrade in extreme cold shortening the cell lifespan. Remember that guy in Finland with the Tesla that he blew up with high-explosives and filmed it in slow motion? Tesla told him sorry Charlie, it’s going to cost you 30K euros to replace the battery pack. The vehicle was only a few years old. The battery pack should have lasted longer but the brutal Finnish winters killed it.
Gasoline / Diesel is still far more energy efficient than any EV. There’s more energy per gallon than any battery packs capacity.
Internal combustion hydrogen is probably where we need to go. It’s still better than hydrogen fuel cells which are better than Lithium-Ion EV’s.
As to the dangers of Lithium-Ion batteries, when it comes to a short and catastrophic cascade failure resulting in white hot fire which is extremely difficult to extinguish. Crash damaged EVs are known to continuously catch fire in a tow-lot / junkyard. One fire department responded 5 times and decided to dig a hole, push the vehicle in and submerge it in 5′ of water.
There are newer battery designs but they are all patented and the owners demand to be paid. They are all hoping to become the next billionaire if their battery tech is adopted. Several designs can withstand a nail being driven through a battery cell without bursting into flames or exploding as well as considerably increasing the efficiency.
Too confrontational to nationalize oil and gas (Venezuala), so this is an alternative that SOME will actually cheer on. The “nudge” towards 100% electric (appliances, cars et al) will not stop absent divine intervention, as the drunk on power see a once in a lifetime opportunity…..transition most of our energy dependence, and the resultant $$$, to THEM.
If you thought OPEC was bad, wait until China has global control of the battery market. The US is China’s bitch. Don’t let patriotism cloud your sense of reality.
There should be a rule: you cannot criticize Electric Vehicles unless you have driven at least one for two hours.
Illegitimate president Biden is one of these tyrants, Biden is a criminal, yet Rand Paul says they don’t have enough evidence to impeach him.
Ford is building 2 gigantic facilities at this very moment for EV production. Blue Oval City in Kentucky is 1500 acres, Blue Oval City in Tennessee is 4,000 acres. I believe mostly funded by government through the Inflation Reduction Act. I don’t get it- they aren’t dumb, they have to know that EVs are viable long term, yet massive new facilities. Doesn’t add up to me.
I had no intention of buying an electric vehicle (“EV”). I went to the Ford dealership and test drove the Ford Mustang. Nice ride. Then at the suggestion of the salesperson, on a lark, I test-drove the EV version, the Mustang Mach-E. Smooth, quiet ride. Amazing acceleration. Incredible handling. I was sold on the spot and purchased the Mach-E. I’m 65 years old. I believe EV’s are the future. Not because they’ll save the planet (far from it), but because of handling, ability to charge from home (no more time at filling stations), and whatever green window-dressing goes along with it. Ford will have to overcome the current losses but it’s a non-starter to imagine any auto maker abandoning EV’s. They are the future.
I had no intention of buying an electric vehicle (“EV”). I went to the Ford dealership and test drove the Ford Mustang. Nice ride. Then at the suggestion of the salesperson, on a lark, I test-drove the EV version, the Mustang Mach-E. Smooth, quiet ride. Amazing acceleration. Incredible handling. I was sold on the spot and purchased the Mach-E. I’m 65 years old. I believe EV’s are the future. Not because they’ll save the planet (far from it), but because of handling, ability to charge from home (no more time at filling stations), and whatever green window-dressing goes along with it. Ford will have to overcome the current losses but it’s a non-starter to imagine any auto maker abandoning EV’s. They are the future.
It takes 100 barrels of oil to produce one battery that can store the equivalent energy of one barrel of oil.
Mining rare earth metals for battery production creates enormous amounts of pollution.
Those on the Global Warming! . . . err I mean Climate Change! band wagon either have done zero research or they’re as dumb as a bag of rocks to believe the agenda.
So-called environmentalists these days are just using that as a thin façade to hide their true Communistic intents.